The risk of cognitive decline
A new Vanguard study shows that Investors’ perception of the risk of cognitive decline is roughly in line with the lifetime risk of dementia but underestimates the broader risk of mild cognitive impairment.
While most respondents had some planning in place to mitigate the effects of cognitive decline, they were less likely to have had proactive conversations about care and the transfer of control of finances. Timing the transfer is key, as mistiming can have significant implications for financial well-being.